Tag Archives: treasury secretary

Jack Lew, who President Obama nominated for treasury secretary in January, was confirmed for the position by the Senate in a 71-26 vote Wednesday.

A Queen native and Forest Hills High School graduate, Lew served as the president’s chief of staff for the last year and previously was the director of the Office of Management and Budget (OMB).

Lew, who is replacing Timothy Geithner, is the second person to head the U.S. Treasury under the Obama administration.

“At this critical time for our economy and our country, there is no one more qualified for this position than Jack. As my chief of staff, Jack was by my side as we confronted our nation’s toughest challenges. His reputation as a master of fiscal issues who can work with leaders on both sides of the aisle has already helped him succeed in some of the toughest jobs in Washington. And I will continue to rely on his advice and sound judgment as we work to create good, middle-class jobs, provide more people with the skills those jobs require, and ensure every hardworking American can earn a decent living,” the president said in a statement following Lew’s confirmation.

Friday: Overcast with a chance of rain in the afternoon. High of 48. Winds from the SE at 5 to 10 mph. Chance of rain 40%. Friday night: Overcast with rain, then a chance of rain after midnight. Fog overnight. Low of 43. Winds from the SSE at 5 to 10 mph shifting to the East after midnight. Chance of rain 80%.

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President Obama officially nominated his chief of staff, Queens native Jacob “Jack” Lew, for secretary of the treasury Thursday.

“As a kid growing up in Queens, I had dreams of making a difference in the world,” said Lew at the nomination announcement.

The 57–year-old, who resided on Yellowstone Boulevard and graduated from Forest Hills High School, has been the president’s chief of staff for the last year and previously was the director of the Office of Management and Budget (OMB).

“If confirmed, I look forward to joining the Treasury Department, whose people are legendary for their skill and knowledge. It’s a team that I’ve collaborated with closely over many years and have come to respect greatly,” said Lew.

“I don’t want to see him go because it’s working out really well for me to have him here in the White House. But my loss will be the nation’s gain,” said the president.

“Having Lew on your team is the equivalent as a coach of having the luxury of putting somebody at almost any position and knowing he will do well,” Obama added.

Assuming he is confirmed, Lew will replace Timothy Geithner, who has been treasury secretary since the beginning of Obama’s first term.

“I know him as a man of exceptional judgment, calm under pressure, with an extraordinary record of accomplishment and experience over decades spent at the center of American economic policy,” Geithner said about Lew this afternoon.

Although Lew has the experience and support to take on the position, his signature may not be ready for the job.

As secretary of the treasury, Lew’s John Hancock will appear on paper money, which may be a problem since it is reportedly illegible.

At the announcement the president joked about his sloppy signature: “Jack assures me that he is going to work to make at least one letter legible in order not to debase our currency should he be confirmed as secretary of the treasury.”